Plus500 Forex Broker Review
Plus500 Ltd. is a popular London-based Forex and CFD broker founded in 2008. Plus500 has offices in multiple countries, covers 30 different languages, and is regulated by several regulatory agencies, including:
The Financial Conduct Authority (FCA) in Europe
The Australian Securities and Investments Commission (ASIC)
The Cyprus Securities and Exchange Commission (CySEC)
Plus500 is also a fully listed company under the London Stock Exchange. Because of its regulatory legitimacy, it is entirely safe to deposit funds and trade with Plus500.
Plus500 Account Features
Plus500 is well-known for their powerful trading platform that allows investors to choose from over 2,000 instruments, which includes over 50 Forex pairs, ETF shares, commodities, options and indices that range across 20 global financial markets.
Plus500 requires a minimum deposit of $200 to open a new account. For trading Forex, Plus500 allows up to 1:294 leverage. Through the Account Snapshot page, traders get access to various graphs that visually display the amount of leverage that is being used. It compares the ‘Total position value’ to the ‘Equity’ amount. This makes it much easier to understand how to properly use leverage to manage risk.
Plus500 also offers easy to manage ‘Close at Profit’ and ‘Close at Loss’ limit features. This makes managing risk and capital a simple process. This broker offers a limited set of trading platforms, including WebTrader, Windows Traders, Windows 10 Trader, and Android, iOS, and Windows mobile apps for easy on-the-go trading. Each platform comes with a nearly endless number of advanced technical analysis tools.
Plus500 Pros & Cons
Plus500 has a clutter free, cleanly designed platform, website and interface. Their risk management tools are perfect for traders who want to minimize their risk trading Forex, and their guaranteed limit orders, trailing stops and timely price alerts are also helpful.
Here are some of the pros and cons that come with trading Forex with Plus500.
Zero withdrawal or deposit fees or commissions
Very tight fixed spreads
Zero trade commissions – just pay the spread
The website and platform are available in 23 different languages
A courteous welcome bonus structure with no limitations
Plus500 charges a $5 fee on smaller accounts that go 3 months without activity
Prices do not come directly from the market exchange
Scalping is not allowed
Expert Advisors (EA’s) are not offered
Hedging is not allowed